Korea's Samsung Electronics made a foray into the medical device world this week with the introduction of an ultra-fast blood-testing device. The tech giant says IVD-A10A (photo), as it is known, is smaller, faster and more accurate than existing tests. It measures just 250×350×250mm in size but is able to test cholesterol, glucose and and a number of other substances in the blood in just 12 minutes. Korean pharmaceutical manufacturer Choongwae Pharma is partnered with Samsung to sell the device to hospitals.
Samsung previously stated it plans to invest heavily in five growth sectors, including biopharmaceuticals and medical devices, in order to move away from TVs, mobile phones and other core business units. The company plans to invest up to $9.85 billion in healthcare by 2020.